Prop. 39 – Yes: Closing tax loophole for out-of-state firms

Even assuming someone feels strongly against “ballot-box budgeting,” it is essential for voters to understand that Proposition 39 only temporarily allocates half the revenue to improving the energy and economic efficiency of public buildings. The measure has been purposefully designed to place all revenue in the unrestricted general fund after the first five years. Since there is no reason to expect the Legislature to correct the current travesty, the next ballot opportunity will be in 2014, two years into the five-year allocation period. It simply makes no sense to continue to hurt California companies and California’s budget because of a disagreement over how half the money will be allocated for three years.

This current unfair tax policy for out-of-state corporations puts California-based businesses at a disadvantage, and encourages them to expand operations and employment in other states. Let’s close this loophole and reinvest in California. Vote yes on Proposition 39.